You may be eligible for an exemption from ST0 Alternative Specialist Technical as a result of previous study.

Criteria for exemption from ST0

The Education Committee has now set the following criteria for study that will be eligible for exemption in ST0.

• You must have successfully completed the alternative study or qualification.
• The depth of study required must be at least that required in one of the Specialist Technical Stage subjects.
• The study must be in a subject sufficiently distinct from an existing Specialist Technical Stage subject.
• The normal time expectation for the study of the alternative subject or qualification must be at least 200 hours. This will apply where alternative subjects on degree programmes are considered.
• The study must be shown to be relevant to actuarial work.

ST0 was introduced to recognise qualifications that students have obtained before joining the Profession. These alternative routes have to be at least equivalent in standard to the Profession’s ST level examinations. It was never the intention that students could seek out alternative, potentially easier, routes while studying for the Profession’s examinations.

You will fit the above criteria, and therefore be eligible to apply for an exemption from the Alternative Specialist Technical subject (ST0), if you have one of the following qualifications:

• An MBA from an academic establishment accredited to the Association of MBAs. List of accredited MBA Programmes.
• ACCA Qualification
• Chartered Financial Analyst
• Fellowship of the Chartered Insurance Institute (FCII). There are currently no other exemptions offered for CII qualifications
• Fellowship of Chartered Institute of Management Accountants
• Fellowship of the Institute of Chartered Accountants in England and Wales, or the Institute of Chartered Accountants in Scotland. There are currently no other exemptions offered for ICAEW or ICAS qualifications.
• Associateship of the Pensions Management Institute
• Society of Actuaries - Advanced Specialized Actuarial Practice Finance and Enterprise Risk Management

The Profession has now reviewed the inclusion of the GARP Financial Risk Management (FRM) examination on its list of qualifications that can lead to exemption from ST0. It has been agreed that exemption from ST0 will now be given to students who have been certified as a Financial Risk Manager by GARP, but not to those who have only passed the FRM examination. This is consistent with the exemptions offered based on other professional qualifications.

Details of the GARP qualification  

Professional qualifications not listed above

If you are applying for exemption from any of the Actuarial Profession's exams on the basis of a professional qualification not given above you must provide details of the syllabus followed and copies of examination papers taken. Documentary evidence of the grades attained must also be provided in addition to documentary evidence of the qualification attained. The copies must be certified copies signed by your employer, who should be an actuary.

• Syllabus
• Application form and how to apply